Paypal funds on hold

[comicscotty477]

So .... my funds are still on hold.

I have complied with everything that was required - within 1 day - and my funds are still on hold for possibly 3 weeks ... maybe less - who knows?

Not the 3 different paypal agents I spoke to - that's for sure.

I can actually understand the merits of using the held payment system in certain circumstances.

What I can't fathom is why payments are still held when grounds no longer exist to warrant it.

Forget any nonsense about 'buyers could leave wrong feedback'. If the transaction is done and the buyer indicates he's happy - get the cash freed up immediately. 

There's no valid reason to continue to deny customers access to their money.

All this is doing is alienating otherwise normal paypal/ebay users and making it more likely that we will attempt to find an alternative means to accept payment for goods. Clearly if that's not possible when using ebay, the inference is that otherwise loyal customers will make ebay/paypal their last choice to try and sell their items.

I wondered what was happening when I saw a sharp spike in sellers making items collect only/no paypal.

Now I understand.

I don't even know if it will happen again or not if I sell another item of a reasonably high amount. 

The agents I spoke to were perfectly well mannered and polite but unable to answer this when I asked.

[comicscotty477]

There was some confusion over the duration of the hold.

The info on the £65 trigger came from the manager I spoke to. He was ok and appeared to know what he was talking about. It was him that emailled me after I spoke to him and advised me to formally complain - and showed me exactly how to do it.

I don't think it's the monetary value that triggers a hold. My last sale before this one was £425. I believe it's the particular item that caused that.

[berty100]

"What I can't fathom is why payments are still held when grounds no longer exist to warrant it."

Because paypal want to keep your money for as long as possible as they earn interest from it.

They'll cite "security" or "fraud" etc as the reason, but that's not true, because even when the transactions have been proved to be valid, they'll still hold back the money for the longest time they possibly can.

Also, even after the transactions pass their "review" and your money gets flagged as "available for withdrawal", paypal will still hold onto the money for up to 3 days before they send it as they then put it under a "withdrawal review", despite the transactions having already passed their review and despite paypal having already confirmed your bank account.

It's a scam by paypal; they earn interest from your money; it's got absolutely nothing to do with security.

If you're in the UK, contact these people and make a complaint against paypal:

http://www.fca.org.uk/

http://www.financial-ombudsman.org.uk/